Rubicon View Prices Dropping

Rubicon is one of the nicest, though more remote, neighborhoods in Tahoe and it is seeing some pretty incredible price drops and many are view properties. Lakefront sales in the neighborhood were very slow this year – only one sale and it was in the mid-$2m range. Many other Rubicon lakefronts didn’t get shown at all this summer. As far as the views, I sold an incredible Rubicon lake view home (needed work) for only $640,000 (in escrow in July).

Some other neighborhoods had surprisingly slow sales in their lake view segments. Dollar Point on the North Shore was one these. Sometimes it’s simply a matter of unattractive inventory – this summer that was definitely combined with economic woes. But there wasn’t the level of price decrease that we’re seeing in Rubicon. Some of these homes are basically negotiating with themselves and becoming quite attractive to prospective buyers. It’s a risky seller strategy but it might pay off for some of them.